GBP/USD Price Analysis: Bulls are solid after a Symmetrical Triangle breakout above 1.1900
The GBP/USD pair has refreshed its three-day high at 1.1903 in the early Asian session as investors’ risk appetite is improving dramatically. The Cable is expected to display more gains as the US dollar index (DXY) is facing sheer pressure due to a significant recovery in the risk-on profile.
GBP/USD aims to recapture 1.1900 as market mood soars ahead of FOMC minutes
The GBP/USD pair is aiming to recapture the immediate hurdle of 1.1900 sooner as the market mood has turned extremely cheerful. Investors have shrugged off China’s Covid-19 worries and have started pouring funds into risk-perceived assets. Also, the rising expectation of a slowdown in the rate hike pace by the Federal Reserve (Fed) has shifted traction in the favor of risk appetite theme.